QUESTION
If after you have completed your chapter 13, what do funds on hands mean?
Asked on Feb 27th, 2017 on Bankruptcy - New Jersey
5 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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It is money the trustee is still holding, if all the bills have been paid, the trustee will refund it to you.
Answered on May 17th, 2017 at 7:07 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Funds on hand means the money the Trustee has left in your account. If all claims have been paid in accordance with your Plan the funds should be refunded to you. Call the office of your Ch. 13 Trustee to find out what she or he intends to do.
Answered on May 16th, 2017 at 8:50 AM
Funds on hand refers to money left in your account with the trustee. Maybe a creditor moved or went out of business and did not cash their payment from the trustee. Maybe there was an accounting error when the plan was confirmed. Maybe the proof of claim was less than the amount estimated in the plan. Funds on hand means that if your claims have been paid, you may be eligible for refund.
Answered on May 16th, 2017 at 8:50 AM
That refers to funds you paid to the chapter 13 trustee which were not distributed to your creditors.
Answered on May 16th, 2017 at 8:50 AM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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Funds that the Trustee still has and has not distributed yet.
Answered on May 16th, 2017 at 8:49 AM